Macquarie Group Ltd. Has $7.69 Million Holdings in Phillips 66 (NYSE:PSX)

Posted by on Mar 7th, 2023

Macquarie Group Ltd. trimmed its position in shares of Phillips 66 (NYSE:PSX – Get Rating) by 2.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 95,292 shares of the oil and gas company’s stock after selling 2,713 shares during the quarter. Macquarie Group Ltd.’s holdings in Phillips 66 were worth $7,692,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Hallmark Capital Management Inc. boosted its stake in shares of Phillips 66 by 62.5% during the third quarter. Hallmark Capital Management Inc. now owns 325 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 125 shares in the last quarter. Worth Asset Management LLC acquired a new stake in shares of Phillips 66 during the first quarter valued at about $32,000. Horan Securities Inc. boosted its stake in shares of Phillips 66 by 210.6% during the third quarter. Horan Securities Inc. now owns 351 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 238 shares in the last quarter. Core Alternative Capital boosted its stake in shares of Phillips 66 by 218.3% during the third quarter. Core Alternative Capital now owns 366 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 251 shares in the last quarter. Finally, Heritage Wealth Management LLC bought a new position in shares of Phillips 66 during the second quarter worth about $37,000. 70.76% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Trading Down 1.9 %

Shares of Phillips 66 stock opened at $103.98 on Tuesday. The stock has a market capitalization of $48.24 billion, a PE ratio of 4.53, a price-to-earnings-growth ratio of 0.35 and a beta of 1.37. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.17 and a current ratio of 1.38. Phillips 66 has a 52 week low of $73.85 and a 52 week high of $113.53. The stock has a 50 day moving average price of $103.51 and a two-hundred day moving average price of $99.09.

Phillips 66 (NYSE:PSX – Get Rating) last announced its earnings results on Tuesday, January 31st. The oil and gas company reported $4.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.35 by ($0.35). The company had revenue of $40.91 billion for the quarter, compared to analysts’ expectations of $34.30 billion. Phillips 66 had a net margin of 6.27% and a return on equity of 31.20%. During the same period in the previous year, the firm earned $2.94 EPS. As a group, equities analysts anticipate that Phillips 66 will post 15.25 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Tuesday, February 21st were given a dividend of $1.05 per share. This is a boost from Phillips 66’s previous quarterly dividend of $0.97. The ex-dividend date was Friday, February 17th. This represents a $4.20 annualized dividend and a dividend yield of 4.04%. Phillips 66’s payout ratio is presently 18.30%.

Insider Activity at Phillips 66

In related news, Director Gregory Hayes bought 10,250 shares of the business’s stock in a transaction that occurred on Thursday, February 2nd. The shares were bought at an average price of $97.75 per share, with a total value of $1,001,937.50. Following the completion of the transaction, the director now directly owns 14,299 shares in the company, valued at $1,397,727.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.74% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PSX shares. StockNews.com upgraded Phillips 66 from a “hold” rating to a “buy” rating in a research report on Wednesday, March 1st. Piper Sandler lowered their price objective on Phillips 66 from $155.00 to $137.00 and set an “overweight” rating for the company in a research report on Monday, December 19th. Wells Fargo & Company lowered their price objective on Phillips 66 from $134.00 to $127.00 and set an “overweight” rating for the company in a research report on Thursday, January 5th. The Goldman Sachs Group lifted their target price on Phillips 66 to $123.00 in a report on Wednesday, November 16th. Finally, Royal Bank of Canada lifted their target price on Phillips 66 from $130.00 to $132.00 and gave the stock an “outperform” rating in a report on Wednesday, February 8th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and an average target price of $120.07.

Phillips 66 Profile

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Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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